Allworth Financial LP lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,248 shares of the information services provider’s stock after purchasing an additional 4,514 shares during the period. Allworth Financial LP’s holdings in Alphabet were worth $15,112,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the business. Modera Wealth Management LLC grew its position in Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after buying an additional 4,420 shares in the last quarter. Atria Investments Inc grew its position in Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after buying an additional 21,907 shares in the last quarter. Cadent Capital Advisors LLC grew its position in Alphabet by 3.4% during the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock worth $498,000 after buying an additional 136 shares in the last quarter. Hallmark Capital Management Inc. grew its position in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after buying an additional 13,605 shares in the last quarter. Finally, Marcum Wealth LLC grew its position in Alphabet by 4.8% during the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after buying an additional 927 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on GOOGL shares. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Alphabet in a research report on Wednesday, September 13th. Piper Sandler decreased their price objective on Alphabet from $148.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday. Susquehanna reaffirmed a “positive” rating and set a $150.00 price objective on shares of Alphabet in a report on Thursday, August 31st. StockNews.com started coverage on Alphabet in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, KeyCorp lifted their price objective on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $143.86.
Alphabet Stock Performance
Shares of Alphabet stock opened at $132.43 on Wednesday. The firm has a fifty day moving average of $132.30 and a two-hundred day moving average of $121.09. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $139.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.68 EPS for the current year.
Insider Activity
In other news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the transaction, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. Insiders sold 116,248 shares of company stock valued at $15,024,706 in the last quarter. Company insiders own 0.88% of the company’s stock.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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